Customs Fines and Penalties Revolving Fund

(a)Fund Established. There is hereby established within the Customs and Quarantine Agency a fund to be known as the “Customs Fines and Penalties Revolving Fund” which shall be separate and apart from other funds of the government of Guam, and for which independent records shall be maintained. The Director of Customs is hereby authorized to expend collected funds without appropriation.

(b)Deposits. All monies received in accordance with §§ 73119, 73120, 73121, 73122, 73123 and 73124 as it relates to fines, penalties and storage shall be deposited in the Customs Fines and Penalties Revolving Fund.

(c)Authorized Expense(s). All expenses authorized by the Director of Customs to be used solely for the Customs and Quarantine Agency shall be paid from the Customs Fines and Penalties Revolving Fund.

(d)Report. In the first January after the enactment of this Act, and every six

(6)months thereafter, the Director of Customs and Quarantine shall prepare and transmit, via I Maga’hågan/Maga’låhen Guåhan, a detailed report on the status of the Customs Fines and Penalties Revolving Fund, to include an itemization of expenditures charged against the Fund, to the Speaker of I Liheslaturan Guåhan.